Earnings Call Transcripts
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All Earnings Calls
Valaris Second Quarter 2025 Earnings Call - Floater pipeline converts, $4.7B backlog and three drillships fixed above $400k/day
Valaris reported a quarter that looked like execution meeting opportunity. Operations stayed tight, with fleetwide revenue efficiency at 96% and no lost time incidents in H1, driving adjusted EBITDA o...
- Revenue efficiency 96% across the fleet in Q2; H1 completed with zero lost time incidents, underscoring operational discipline.
- Adjusted EBITDA of $201 million and adjusted free cash flow of $63 million for Q2; Q2 adjusted EBITDA beat guidance due in part to a $24 million favorable arbitration outcome.
- Total contract backlog rose to approximately $4.7 billion, up more than $1 billion since Q1, the highest backlog this decade.
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Schneider National Inc. Q2 2025 Earnings Call - Restoring margins through allocation discipline, dedicated shift, and cost cuts; EPS guide $0.75–$0.95
Schneider spent the quarter proving a playbook that is part survival, part runway. Management reported sequential margin recovery driven by disciplined customer freight allocations, ongoing cost reduc...
- Enterprise revenues excluding fuel surcharge were about $1.3 billion, up 10% year over year in Q2 2025.
- Adjusted income from operations was $57 million, a 9% increase year over year; adjusted diluted EPS was $0.21 for the quarter.
- Full year adjusted EPS guidance was updated to $0.75 to $0.95, with management trimming the high end to reflect trade policy uncertainty and weaker spot rate trends into July.
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Tetra Tech Q3 FY2025 Earnings Call - Record operating income and margins on disaster-response surge and USAID cash collections
Tetra Tech delivered an unusually strong Q3, posting record operating income and EPS driven by rapid mobilization for California fire recovery and the near-complete collection of outstanding USAID inv...
- Tetra Tech reported record quarterly operating income and EPS, the highest in company history for any quarter.
- Net revenue excluding USAID and Department of State was $1.06 billion, up 11% year over year.
- Operating income for the quarter was $159 million, up 37% year over year; EPS was $0.41, up 46% year over year.
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Murphy USA Q2 2025 Earnings Call - Retail Fuel Margins and Cost Cuts Cushion Weak Volumes, Store Build Accelerates
Murphy USA reported a soft second quarter on volumes but a sturdier underlying business than headline APSM figures imply. Same-store fuel volumes fell about 3.2% in Q2, yet July has rebounded to rough...
- Q2 same-store fuel volumes declined about 3.2% on an average-per-store-month basis, with June showing deeper weakness; July volumes were running at roughly 100% of prior year with a few reporting days left in the month.
- Fuel prices stayed range-bound with low volatility, and retail fuel margins proved resilient, improving about 80 basis points year to date; lower credit card fees contributed roughly 13 basis points of benefit.
- Merchandise contribution guidance was revised toward the low end of the $855 million to $875 million range, but Murphy USA-branded stores were up 8.9% in merchandise contribution for the quarter when excluding cigarettes and lottery.
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Colliers International Group Inc. Second Quarter 2025 Earnings Call - Engineering-Led Beat, Raised Outlook
Colliers posted a beat driven by an outsized Engineering quarter, prompting management to raise full-year guidance even as Leasing softened. Revenue came in at $1.3 billion, up 17% year over year, wit...
- Revenue $1.3 billion, up 17% year over year, with adjusted EBITDA of $180 million, up 15% y/y.
- Management reported internal revenue growth of 4% for the quarter.
- Engineering was the primary driver: net revenue jumped 70%, with ~8% organic growth and net margin improving to 13.7%.
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Boot Barn Holdings Inc. First Quarter Fiscal 2026 Earnings Call - Strong comps, margin expansion and aggressive new-store push amid tariff uncertainty
Boot Barn kicked off fiscal 2026 with a clean beat: Q1 sales rose 19% to $504 million, consolidated comps were up 9.4%, merchandise margin widened 180 basis points, and EPS jumped 38% to $1.74. Manage...
- Q1 revenue climbed 19% year-over-year to $504 million, driven by new-store sales and a 9.4% consolidated same-store sales increase.
- Earnings per diluted share rose 38% to $1.74, supported by a 180 basis-point improvement in merchandise margin and tight expense control.
- Gross profit rose 26% to $197 million; gross profit rate increased 210 basis points to 39.1% versus prior year.
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AMG Second Quarter 2025 Earnings Call - Alternatives now drive majority of EBITDA, setting up a 2026 EPS step-up
AMG spent the quarter doubling down on a bet that is now paying off. Alternatives drove record inflows, lifted organic growth to a 12-year high for the quarter, and pushed alternative strategies to mo...
- AMG reported Q2 2025 economic earnings per share of $5.39, up 15% year over year, boosted by significant share repurchases over the last 18 months.
- Adjusted EBITDA for Q2 was $220 million, up 1% year over year and including $5 million of net performance fee income; fee related earnings rose 4% YoY.
- Net client cash flows in Q2 were more than $8 billion, driven by a record quarter of alternative inflows of $19 billion that more than offset $11 billion of outflows in active equities.
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Comstock Resources Q2 2025 Earnings Call - Western Haynesville De-risking and Cost Cuts Aim to Unlock Value
Comstock used the quarter to push hard on de-risking a massive Western Haynesville position while steadying cash flow from its legacy core. Production was down year over year after a 2024 pullback, bu...
- Western Haynesville footprint now nearly 525,000 net acres, part of a larger 826,741 net-acre prospectivity position for Haynesville and Bossier.
- Company drilled 29 Western Haynesville wells to date, 24 currently producing; five Western wells turned to sales in Q2, two highlighted as among the best Comstock has drilled.
- Q2 production averaged 1.23 Bcfe/d, down 14% vs Q2 2024, reflecting the 2024 rig pullback and deferred completions; but higher realized prices pushed oil and gas sales to $344 million.
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Kite Realty Group Trust Q2 2025 Earnings Call - Leasing Momentum Drives Highest Blended Spreads in Five Years and $1B+ GIC JV
Kite Realty turned in a tidy operational quarter, led by a leasing surge that produced 17% blended cash leasing spreads, the company’s best quarterly result in five years. Management is pitching a del...
- Blended cash leasing spreads in Q2 were 17%, the highest quarterly blended spread for Kite in five years.
- Non-option renewal leasing spreads were roughly 20% in Q2 and 16% over the last 12 months, signaling strong mark to market opportunity.
- New leasing volume more than doubled sequentially, driven by 11 new anchor leases in Q2, including two grocery wins with Whole Foods and Trader Joe’s.
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Broadstone Net Lease Q2 2025 Earnings Call - Build-to-Suit Pipeline and Beat-and-Raise Drive Mid-Single-Digit AFFO Growth
Broadstone reported a beat-and-raise for Q2, lifting 2025 AFFO guidance to $1.48–$1.50 per share, with management pitching a multi-year growth story anchored in a growing build-to-suit program and dis...
- Company raised 2025 AFFO guidance to $1.48–$1.50 per share, midpoint implying ~4.2% AFFO growth year over year.
- Q2 AFFO was $0.38 per share, a 5.6% increase versus Q2 2024 and versus Q1 2025.
- Management is emphasizing a differentiated growth strategy built around build-to-suit developments plus relationship-based regular acquisitions.
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